Wells Fargo exec parties on — in a foreclosed Malibu beach house

A Wells Fargo & Co. executive who oversees foreclosed properties hosted parties and spent long summer weekends in a $12 million Malibu beach house, moving into the home just after it had been surrendered to Wells Fargo to satisfy debts, neighbors said.

Real estate agent Irene Dazzan-Palmer said a couple, ruined in the Bernard Madoff fraud, signed the property over to Wells Fargo last spring, and the bank subsequently denied requests to show the house to prospective buyers.

It appears that Cheronda Guyton, a Wells Fargo senior vice president responsible for foreclosed commercial properties, took up residence in the property.

Residents said Guyton, along with her husband and two children, often hosted guests at the home, including a large party the last weekend of August.

Wells Fargo said in a written statement that it would conduct a thorough investigation of the allegations by neighbors, but said it wouldn’t “discuss specific team member situations/issues for privacy reasons.”